Everything Guy Turner said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Guy Turner: B2B product-market fit requires four sequential milestone steps
“So in the earliest stages of a startup, that's, can you get someone to pay for your product? And then it's, can you get more than one someone? So, Five, six, seven, 10, 15, a hundred customers, depending on your price point, to really prove, hey, you didn't ju…”
Turner: B2B First Sales Do Not Guarantee Scalability
“I think in business-to-business software, that, that would be kind of a tough rule because we do see a lot of situations where a specific piece of software is developed for one customer with a pretty specific need, and that getting beyond that one customer to …”
Turner: Hyde Park avoids founding teams lacking a technical co-founder
“The one wrong way that we're pretty pretty conscious of is we typically will not invest in a founding team that does not have a strong technical co-founder on it.”
Guy Turner: Successful startups limit strategy testing to weeks or months
“The teams that we see being successful will test strategies, put a bound put a boundary on how long they're willing to spend on it without it being successful and then move on to the next thing. And that's measured in weeks and months in a successful startup, …”
Turner: Startups Should Always Raise Minimum 18 Months Runway
“So, eighteen-month runway is what we consider being the minimum that a startup should raise, regardless of stage whether it's a seed stage, or whether it's a series A or a series B,”
Guy Turner: Investors will add 33% more capital to double success odds
“Investors want you to be successful and are typically willing to put a third more money to work to double the chances of the company being successful.”
Turner: Startup hype exceeding performance harms future fundraising
“We see that particularly in financings when companies that at one point were very high on the hype curve, and as I like to say, where hype is really ahead of performance where they need to suddenly raise more money, and they actually go in front of investors, …”
Turner: Executive humility prevents hype from damaging startup reputation
“I think there's a way to attenuate the hype, which is by, you know, maintaining a personality of the executives that, that doesn't believe, believe their own press. In other words a company can have lots of hype about it. But if when the executives and CEOs an…”
Guy Turner: Sales cycles must be much shorter than funding cycles
“So our number one rule in, in startup sales, and when we evaluate a company, is that the sales cycle has to be much, much shorter than the funding cycle. And so, generally, for a company that, you know, is raising 18 to 24 months of runway, we don't like to se…”
Turner: Half of Hyde Park investments go to first-time founders
“I would say probably about half of our investments are our first time founders.”
Turner: Vague responses from VCs usually signal a rejection
“At the end of any meeting with a VC, you should be looking for next steps and commitment on those next steps. Most of the time, there won't be that kind of commitment. It'll be something like, let me talk to my partners. Or let me think about it, or things, th…”
Turner: VCs should ask permission before giving rejected founders feedback
“I shouldn't assume that someone wants my feedback, and probably no venture, no VC should and it's always best to ask for someone's permission to give them feedback”
Turner: Problem solving is the main transferable engineering skill to VC
“The part of engineering that's transferable to investing and both looking at investments and also managing in an investment portfolio is the problem solving part.”
Turner: Consulting work directly prepares venture capitalists for deal evaluation
“The consulting work was probably a little bit more transferable in the sense that, you know, as a consultant, you spend one to four months at a time looking at an industry and hopefully learning just enough with just enough of a different viewpoint than the co…”